CBIZ Acquires Employee Benefits Business

Cleveland-based CBIZ (FY15 net revenue of $610 million) announced that it has acquired the assets related to the employee benefits consulting business of Ed Jacobs & Associates Inc. (EJ&A) of Cleveland, Tenn., effective July 1.

Ed Jacobs & Associates was founded in 1988 and has more than 150 clients, nine employees and recorded approximately $2.1 million in revenue during the past 12 months.

E&J partner Andy Figlestahler says, “By joining forces with a leading national firm, we have enhanced our ability to serve our clients by providing them with a broader array of products and services including payroll, retirement plan services, wellness programs and pharmaceutical advisory services.”

“We welcome EJ&A’s employee benefits team to CBIZ and we look forward to working with them to serve our clients and grow the business,” says Jerry Grisko, president and CEO of CBIZ. “This acquisition is a continuation of our commitment to build out a strong employee benefits practice that now represents over $100 million in revenue for CBIZ. EJ&A’s employee benefits business will be integrated into our Tennessee market that includes current operations in Nashville, Knoxville and Chattanooga, and will complement our financial services offerings in Memphis.”